Global Excellence 2020

Acquisition International - Global Excellence 2020 29 28 Acquisition International - Issue 7 2020 s an innovative AI based building inspection company, RaSpect aim to create a safer and smarter society via state-of-the-art technology, including robotics, AI and IoT. For property owners who look for high quality property maintenance, RaSpect provide AI-powered predictive inspection solutions for their properties with a 50% reduction of cost and time. Yolanda begins with a brief overview of the firm and the client base RaSpect typically serve. “The building inspection industry is still running in a tedious traditional way, with the majority of the inspection work being done manually, which is costly and time consuming. The traditional approach can’t reveal the real time safety status of the buildings, but it’s critical as it will be a life-threatening issue directly. Automated multi-sensory intelligence inspections would definitely address the problem. “We leverage a wide range of data, with the integration of IoT sensing technology and robotics system, the process of data collection is automated ans standardized to achieve remote detection and real- time monitoring. Establish high-quality inspection big data, cooperate with deep learning image recognition, data model analysis and other cutting-edge technologies to conduct early warning analysis for building safety. “Typically, we provide inspection services to clients from a variety of sectors, including government, developers and property management companies, currently we are developing a ‘brain’ of inspection for engineers, architects and surveyors around the world. As innovators in the building sector, we are committed to improving the safety of buildings and infrastructures and preventing losses.” With RaSpect working in such a competitive industry the firm have been delivering cutting edge solutions to distinguish themselves from their closest competitors as Yolanda goes on to explain. “RaSpect has developed its patented AI-powered automated inspection solution, leveraging IoT, big data, AI and computer vision technology. Having proved to be 50% more cost-efficient than other existing solutions with a more accurate inspection result, our solution is a game- changer for predictive inspections of building and other infrastructures. “As a highly scalable business, we have seen 10 folds of revenue growth since 2017. Additionally, we have validated a high-yield revenue model with a top line of 300k USD in 2019. The market size of facade inspection stands at 142M USD in Hong Kong and 465B A Based in Hong Kong RaSpect Intelligence Inspection Limited are an AI powered building inspection company, improving the safety of architectures since 2017. Recently, we got in touch with Business Development Manager Yolanda Au to find out more about the award-winning firm. Feb20491 Most Innovative AI-Based Building Inspection Company 2020 USD globally. Going forward we are targeting 1.7M USD in 2020 and 8.3M USD in 2021.” With AI beginning to have more of an influence on the construction sector, it has been quite a challenge to encourage those used to the more traditional and manual approach as Yolanda points out. “AI in construction and property is an emerging market, the management of corporate organisations need to put more effort into the execution. Surveyors and engineers also need to understand that informed we are not replacing their roles, but rather aiming to improve the efficiency of inspections.” When looking at the working culture in place at RaSpect, the staff are encouraged to have fun while remaining committed to the goals of the company as Harris, CEO of RaSpect goes on to explain. “Our employees are valuable assets to the business, and we place a great deal of trust in them, but it’s important they have a work-life balance”. Much of the firm’s success depends on the expertise staff can bring to the job, but with academics possessing professional expertise, Harris believes RaSpect have the right personnel in place to succeed. “We are a team of mixed professionals and disciplines, from PhDs of computer vision to civil engineering to machine learning.” Finally, Harris comments on the future of RaSpect and what the firm hope to achieve in 2020 and beyond. “Going forward, we hope to explore new potential business in the APAC region, encourage more surveying and engineering firms to enter into a partnership and last but not least, we believe we can disrupt the industry with leading AI technology and contribute towards a safer and smarter society.” Contact Name: Yolanda Au Telephone Number: +852 59106300 Address: Room 308, 3/F, InnoCentre, Web Address: www.raspect.co “Our employees are valuable assets to the business, and we place a great deal of trust in them, but it’s important they have a work-life balance”